agent Entrepreneur logo
MenuMENU
SearchSEARCH

Diesel Fuel Prices Starting to Fall

Diesel fuel prices have started to fall, but they still remain at historical highs.

January 3, 2023
Diesel Fuel Prices Starting to Fall

Diesel fuel prices have started to fall, but they still remain at historical highs.

IMAGE: GettyImages/LeoPatrizi

2 min to read


Diesel fuel prices are falling offering relief to truckers and other operators of diesel-powered vehicles. However, prices still remain at historical highs.

The U.S. Energy Information Administration (EIA) reports diesel is at $4.537 at the start of the year, down $0.059 from the week prior and 43 cents from Dec. 5. The cost per gallon, however, is still $0.922 higher than the same week in 2021.

Ad Loading...

The average price has remained over $4 a gallon since February 2022 for diesel fuel that's used to transport most goods purchased by U.S. consumers. But sections of East and West coasts are still seeing prices above $5.

Patrick De Haan, the head of petroleum analysis at GasBuddy, told Detroit News there are several factors causing the historically high prices.

The first is that U.S. diesel production remains low. Two thirds of a barrel of crude produces gasoline while just one third becomes diesel, he said, noting that when oil refineries have production issues, diesel output is most affected.

The war between Russia and the Ukraine also has had an impact, he says, by reducing the amount of oil transported from Russia to the U.S.

"Russia produces a lot of heavy oil, that heavy oil produces ... diesel, and because countries aren't importing as much of that heavy oil, the refineries (in the U.S.) aren't able to produce as much heavy product like diesel," De Haan told Detroit News.

Ad Loading...

Refining capacity is also diminished, decreasing by about 4% since 2020. According to the EIA, there were 135 operable refineries in the U.S. in 2020 and just 130 at the beginning of 2022.

Originally posted on Auto Dealer Today

More Industry

Photo of a touchscreen on a car's dashboard
Industryby Hannah MitchellJune 25, 2026

Driving Under Distraction

Though consumers gave higher marks to new vehicles in JD Power’s most recent initial-quality poll, high-tech interference worsened, pointing to craving for simplicity.

Read More →
split background green and blue. 2019 to 2025 with car going from starting location to end point. $37,310 and $48,402. Agent Entrepreneur logo
Industryby Lauren LawrenceJune 25, 2026

Affordable New Cars a Thing of the Past

More than one out of five new vehicles sell for more than $60,000, according to Edmunds. That's up 7% compared to prepandemic 2019.

Read More →
Photo of multiple new SUVs on a car dealership lot
Industryby Hannah MitchellJune 22, 2026

State Follows Federal Warning on Auto Ads

The Massachusetts attorney general cautioned the state’s automotive dealers to be upfront with the consuming public about their vehicle prices or risk punishment.

Read More →
Ad Loading...
Gas pumps.
Industryby Lauren LawrenceJune 15, 2026

Consumer Outlook on the Rise

Younger generations are feeling more positive about their financial futures and current affordability pressures than older generations, according to recent TransUnion data.

Read More →
Group photo of men outside storefront.
Industryby Hannah MitchellMay 28, 2026

Pennsylvania Dealership Under New Retailers

The sale of the Chrysler Dodge Jeep Ram store puts a family auto group on a leaner path as first-time dealers take the helm.

Read More →
Hallway with lockered wiring and computer
Industryby Lauren LawrenceMay 28, 2026

Battery Storage Takes Priority Over EVs

U.S. automakers are prioritizing battery energy stationary storage over electric-vehicle production as the consumer demand for EVs lags the rest of the world.

Read More →
Ad Loading...
Gray-scale photo of a line of Mini cars in a dealership parking lot
Industryby Hannah MitchellMay 27, 2026

Auto Dealers Feel Better But Not Great

A second-quarter Cox Automotive poll of franchised retailers and independents found better views of the current market after a good spring but anticipation of third-quarter storminess.

Read More →
Closeup photo of the front of a white car
Industryby Hannah MitchellMay 21, 2026

New-Vehicle Sales Picture Relative

A May forecast is complicated by last spring’s trade tariff effects on auto retail. Despite continued hard realities, many consumers took advantage of ways to bite the bullet.

Read More →
Nissan logo on front of building
Industryby Lauren LawrenceMay 21, 2026

Auto Group Acquires Third Nissan Rooftop

Iowa-based Coleman Automotive Group recently acquired its seventh dealership, McGrath Nissan, which it renamed Nissan of Elgin.

Read More →
Ad Loading...
Couple talking with auto salesman next to new car inside dealership
Industryby Hannah MitchellMay 20, 2026

April Less Affordable

Based on prices, reduced incentives and slower household income growth, consumers found it more challenging to buy new last month, Cox Automotive reported.

Read More →
Ad Loading...